Introduction

The sovereign wealth fund sector has grown beyond USD 10 trillion in assets, and the demands on it have grown with it. Funds are expected to deliver returns, support national objectives, withstand political pressure, and disclose enough to keep recipient countries comfortable. Boards and senior officers have to balance all of this without losing investment discipline.

This training course takes participants through the architecture that makes that balance workable. We look closely at the Santiago Principles, but we also examine the parts of the job that the principles do not cover, such as the soft power of transparency, the politics of cross-border investment, and the question of where the sponsor government's authority should end.

Key focus areas include:

Key Learning Outcomes

By the end of the week, participants should be able to:

Training Methodology

Sessions move between expert instruction, comparative case work, and structured discussion. Participants spend meaningful time examining how leading funds are actually run, what their disclosures reveal, and where their governance has been tested in practice. Group exercises focus on situations participants are likely to face back in their own organisations.

Sovereign Wealth Funds — Governance, Risk and Investment Oversight

Who Should Attend?

The training course is built for:

  • Board members and trustees of sovereign and public investment funds
  • Senior executives within sovereign investors and ministries of finance
  • Investment officers, risk officers, and compliance professionals
  • Internal auditors and assurance specialists
  • Governance, legal, and policy advisers
  • Central bank and reserve management professionals

Course Outline

Day 1

Sovereign Wealth Funds: Concept, Purpose, and Institutional Design

  • Definition, scope, and distinguishing features of a sovereign wealth fund
  • Categories: stabilisation, savings, development, pension reserve, and strategic funds
  • Funding sources, mandates, and the link to macro-fiscal policy
  • Ownership structures and the role of the sponsor government
  • Comparative models: Norway, Singapore, the Gulf, and emerging market funds
Day 2

The Santiago Principles and the Global Governance Framework

  • Origins, purpose, and structure of the 24 Generally Accepted Principles and Practices
  • Legal foundation, disclosure, and institutional framework principles
  • Investment and risk management principles
  • Self-assessment, peer review, and the role of the IFSWF
  • The OECD Guidelines on Corporate Governance of State-Owned Enterprises
Day 3

Board Governance, Independence, and Decision Rights

  • Owner, board, and management: separating roles and accountability
  • Board composition, independence, and fit-and-proper requirements
  • Investment committee and risk committee design
  • Political insulation and the boundary between policy and commercial mandate
  • Delegation, escalation, and the chain of authority for investment decisions
Day 4

Investment Policy, Risk Appetite, and Performance Oversight

  • Strategic asset allocation and the link to mandate
  • Risk appetite, tolerance limits, and stress testing
  • Performance measurement, benchmarking, and reporting
  • Manager selection, oversight of external managers, and co-investment
  • Integration of climate, ESG, and long-horizon risks
Day 5

Transparency, Cross-Border Investment, and Reputational Risk

  • Disclosure standards, transparency benchmarks, and stakeholder reporting
  • Recipient-country regulation: investment screening and national security regimes
  • Reputational risk, controversy management, and crisis response
  • Lessons learned from sovereign investor case studies
  • Action planning and self-assessment exercise

International Standards & Professional Alignment

Our training courses are aligned with internationally recognised professional standards and frameworks across leadership, strategy, finance, governance, risk, compliance, and audit. By integrating globally trusted models, we ensure learners develop practical, relevant, and industry-recognised capabilities.

Our trainings draw on leading international standards and professional frameworks, including ISO, ISACA, COSO, OECD, IIA, FATF, Basel, IFRS/ISSB, GRI, NIST, CPD, ILM and the OECD AI Principles. This alignment ensures consistency with global best practices across financial management, risk oversight, digital governance, sustainability, and strategic decision-making..

Designed in alignment with globally recognised professional bodies, our courses support continuous professional development, strengthen organisational capability, and provide clear pathways toward professional certifications valued worldwide.

Ready to Take the Next Step?

Reserve your slot today and start your learning journey with us.

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